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The Phoenix Token (PHX) is the native currency of the Phoenix Blockchain ecosystem and serves as a means of exchange and utility within the network. The token has a fixed total supply and is used to pay for transaction fees, dApp usage, and other services within the network. PHX holders can also participate in governance and receive rewards for staking, creating a more democratic and decentralized decision-making process that aligns the interests of the community with the success of the platform.